The case for US stimulus just got weaker. Europe’s is only getting stronger

London (CNN Business)1. America vs. Europe: The United States and Europe could both soon turn on the stimulus taps. The events of the past week have bolstered the case in Europe, but undermined it in the United States. The picture in Europe is different. In Germany, the regional manufacturing powerhouse, factory orders nosedived 2.2% in May compared to the previous month. The year-over-year drop was much worse. “In one line: dreadful,” said Claus Vistesen, chief eurozone economist at Pantheon Macroeconomics. The health of German factories is often seen as a proxy for global demand. Such figures, which have weakened in recent months amid trade disputes, point to trouble ahead. Eurozone retail sales for May announced last week were similarly weak. …